At the Q4 close, there are 754 projects/115,289 rooms currently under construction in Europe, 375 projects/54,097 rooms scheduled to start construction anytime within the next 12 months, and 588 projects/83,214 rooms in the early planning stage. Notably, projects in the early planning stage reached record-high project and room counts and grew 15% by projects and 16% by rooms year-over-year (YOY).
Combined hotel renovations and brand conversions in Europe at the end of Q4 2025 total 700 projects/90,066 rooms. Upscale and upper midscale projects continue to top the hotel construction pipeline at Q4. Upscale projects lead with 367 projects/57,028 rooms, followed by upper midscale with 312 projects/44,224 rooms. Additionally, at Q4, upper upscale development reached record-high project and room counts with 307 projects/48,969 rooms. Luxury development also reached a record-high project count with 174 projects/21,249 rooms.
The United Kingdom leads the region with 274 projects/39,515 rooms. Germany follows with 147 projects/25,616 rooms, then Turkey with record-high project and room counts of 146 projects/20,499 rooms. France and Portugal complete the top five countries with the largest project counts in Europe at Q4, with 126 projects/12,908 rooms and 111 projects/13,820 rooms, respectively. These five countries account for 47% of the projects and 44% of the rooms in the region's total pipeline.
European cities with the largest pipelines at Q4 are led by London with 76 projects/13,657 rooms, Istanbul with 48 projects/7,364 rooms, Lisbon with record-high project and room counts of 39 projects/4,444 rooms, Tashkent, Uzbekistan with 32 projects/5,035 rooms, and Dublin, Ireland with 25 projects/4,648 rooms.
In 2025, 255 new hotels with 30,603 rooms opened throughout Europe. LE analysts forecast continued growth in new hotel openings in 2026, with 315 new hotels/44,666 rooms expected to open, and 320 new hotels/44,625 rooms slated to open in 2027.
Lodging Econometrics
